Palisade Research: Leveraged bullish gold share fund saw 14x spike in volume yesterday

Section:

This Is the Most Important Chart for Gold Investors to See Right Now

From Palisade Research
Palisade Global Investments Ltd., Freeport, Bahamas
Wednesday, July 18, 2018

There's a lot of talk about the relative strength of gold stocks in the recent sell-off for gold.

But nothing sticks out quite like this.

The Direxion Daily Gold Miners Bull 3X Shares (NUGT) traded its entire market cap yesterday.

... Dispatch continues below ...



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Yes, you read that correctly -- its entire market cap in just one day. ...

That equates to $1.2 billion, or 14 times the daily average.

One can only surmise that there was a massive buyer(s) in the mix. Otherwise we could have expected the sector to fare far worse on a day where gold dropped $14 to close at $1,227.

Is this a classic bear trap – or will gold stocks soon play catch up?

Only time will tell, but yesterday's action in NUGT could be a very strong sign that the bottom is in.

... For the remainder of the report:

https://palisade-research.com/most-important-gold-chart-right-now/

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